Romanian businessman buys 55% of special transport vehicles manufacturer Romprim

Romanian businessman buys 55% of special transport vehicles manufacturer Romprim Romprim

BUCHAREST (Romania), May 16 (SeeNews) - Businessman Radu Lucianu took over a 55% stake in special transport vehicles manufacturer Romprim and was named CEO of the company, Romprim said on Wednesday.

The shares were acquired through a public offer launched in November, Romprim said in a press release.

Lucianu has 30 years of experience in the field of business, business administration, investment and real estate development. In parallel, he will continue to work on the property market through Capital Property Advistors, which he founded in 2011.

The change in the shareholder structure is part of the series of changes aimed at simplifying and streamlining the company's management structure, Romprim said.

"The next period will be marked by a series of strategic actions aimed towards the diversification, growth and re-technologization of Romprim. Our priorities include the stabilization of the company's results, as well as putting an end to operational losses in order to remain competitive and to ensure organic growth," Luciano was quoted as saying.

With more than 50 years of experience in the construction of special transport vehicles, urban vehicles and spare parts production, Romprim is the largest automotive manufacturer in Romania and the only manufacturer of fire-fighting vehicles in the domestic market.

The company carries out partnerships in the field of carbody for various vehicles produced by companies such as Roman Braşov, Peugeot, Dacia, Renault, Iveco, DAF, LucianuNissan or MAZ.

The company's net profit dropped by 43% on the year in 2016 to 1.62 million lei ($414,000/351,000 euro) while turnover jumped 69% to 21.7 million lei in 2016, latest data available from the finance ministry showed. Romprim employed 128 at end-2016.

(1 euro=4.6338 lei)

5 / 5 free articles left this month
Get more for free. Sign up for Basic subscription
Get full access. Upgrade to Premium subscription